1. Introduction
1.1. We are Kroo Bank Ltd (“Kroo” or “we/our/us”), a limited company registered in England and Wales with company number 10359002, and our registered address is at LABS House 15-19 Bloomsbury Way, London WC1A 2TH. To contact us, please do so through our banking app or email help@kroo.com.
1.2. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
1.3. You are seeing these terms (this Agreement) because you wish to access or use an application or service we provide in order to:
1.3.1. access the data (Account Data) related to your payment account (Payment Account) which is held by your bank (not Kroo), building society and other payment account providers (Account Provider), this service being referred to as the Kroo AI Service; and/or
1.3.2. initiate a payment from your Payment Account to your account held by Kroo, this service being referred to as the Kroo PI Service.
1.4. Together, the Kroo AI Service and the Kroo PI Service are referred to as the Kroo Platform Service.
1.5. By accessing or using the Kroo Platform Service, you are agreeing to be bound by this Agreement. If you do not agree to the terms of this Agreement, you must stop accessing or using the Kroo Platform Service.
2. Kroo AI Service
2.1. This section 2 sets out the basis on which we will provide the Kroo AI Service. You provide us with your explicit consent, on an ongoing basis for 90 days from the date of your giving explicit consent, to:
2.1.1. retrieve your Account Data held by your Account Provider;
2.1.2. transfer your Account Data to us. We will use that information in accordance with the terms agreed between you and us.
2.2. In order for us to access or use the Account Data held by your Account Provider, you must supply us with the credentials which you would use when accessing your account directly with your Account Provider. We will look after these credentials using reasonable care and skill and in accordance with our regulatory obligations.
2.3. We will not charge you for your use of the Kroo Platform Service.
2.4. In certain circumstances, you may need to renew your consent or carry out strong customer authentication in order for us to access the Account Data and it is your responsibility to carry this out in order for us to continue to process Account Data in accordance with section 2.1 above.
3. Kroo PI Service
3.1. The Kroo PI Service, which is integrated into our banking app, allows you to initiate payments (Initiated Payment) to yourself or other people in your Group. Collectively you and other people in your Group are referred to as “Payees”. By “Group” we mean anyone who in the Kroo banking app on your mobile device is shown to be in one or more groups that you have created using Kroo’s social tools. Such individuals may or may not be Kroo customers.
3.2. If you wish to make an Initiated Payment to a Payee via the Kroo PI Service then you will need to confirm the following details (Initiated Payment Details):
3.2.1. certain details in relation to your Payment Account (including security details which your Account Provider will require for the purposes of strong customer authentication);
3.2.2. the amount of the Initiated Payment; and
3.2.3. the account details of the Payee, which may be prepopulated by Kroo if you are paying into your own Kroo account or selecting a payee from your social group in the banking app.
3.3. We may automatically fill in some of the Initiated Payment Details (for example, the Payee’s account number and sort code) but you agree that it is your responsibility to ensure that the Initiated Payment Details are correct.
3.4. When you confirm that you wish to make the Initiated Payment to the Payee using the Initiated Payment Details, this will be taken as your explicit consent for us to send the Initiated Payment Details to the Payee’s Account Provider. If the Initiated Payment is successful, we will notify you and the Payee of this. If the Initiated Payment is unsuccessful (because, for example, you have insufficient funds in your Payment Account), we will notify you and the Payee of this.
3.5. You acknowledge and agree that the successful execution of an Initiated Payment is dependent upon the cooperation of your Account Provider (and the account provider of the Payee) and the correct functioning of the banking infrastructure. Once we have submitted the Initiated Payment Details to your Account Provider, the execution of the Initiated Payment is the responsibility of your Account Provider and we are not responsible for any delays in this respect.
3.6. You may be redirected to your Account Provider’s website or mobile application in order to authenticate yourself so that your Account Provider knows that you consent to the Initiated Payment.
3.7. If the Initiated Payment relates to a transaction that is to be executed by your Account Provider immediately, you will not be able to cancel the Initiated Payment after you have provided your confirmation.
3.8. We will not charge you for making an Initiated Payment but your Account Provider may, at its discretion, charge you to execute the payment (please refer to your Account Provider for further information in relation to any charges which may be applicable).
4. Incorrect or Unauthorised Payments
4.1. If you suspect that an unauthorised or incorrect Initiated Payment has been made using the Kroo PI Service you must notify us of this as soon as possible by emailing help@kroo.com or contacting us via the Kroo banking app.
4.2. You may be entitled to a refund of the unauthorised or incorrect Initiated Payment from your Account Provider but you must notify them of the unauthorised or incorrect payment as soon as possible and no later than 13 months after the date of the relevant Initiated Payment.
4.3. You should be aware that your Account Provider may contact you directly (and not through us) if there is an issue with the Initiated Payment submitted through the Kroo PI Service (for example, there are insufficient funds or an issue with your authorisation). You will need to resolve any such issues directly with your Account Provider.
5. Your obligations to us
5.1. By using the Kroo Platform Service, you agree and confirm that:
5.1.1. all the information you have provided to us is accurate and correct and you are the person whose details you have provided;
5.1.2. you can enter into a legally binding agreement with us;
5.1.3. you will only use the Kroo Platform Service for the purposes envisaged by these terms;
5.1.4. you will, upon request and where applicable, have provided a current address, telephone number and e-mail address (and will notify us immediately if your contact details change); and
5.1.5.you are over 18 years of age.
5.2. You agree that you will not access or use the Kroo Platform Service except for its intended purpose and will not attempt to:
5.2.1. gain unauthorised access to, make unauthorised alterations to, or introduce any kind of malicious code, including any viruses, disabling code, time bombs or Trojan horses, to the Kroo Platform Service by any means;
5.2.2. except as permitted by law, reverse engineer or decompile (whether in whole or part) the Kroo Platform Service;
5.2.3. make copies, modify, reproduce, transmit, alter or distribute all or any part of the Kroo Platform Service or any material or information contained in them, other than as permitted by law;
5.2.4. use the Kroo Platform Service for any purpose that is unlawful under any applicable law;
5.2.5. use the Kroo Platform Service to commit any act of fraud;
5.2.6. use the Kroo Platform Service to simulate communications from us or another service or entity in order to collect identity information, authentication credentials, or other information (‘phishing’);
5.2.7. use the Kroo Platform Service in any manner that disrupts its operation.
5.3. If you suspect that there is fraud or a security risk in relation to the Kroo Platform Service, you must immediately contact us using the contact details set out above.
6. Privacy
6.1. As a Kroo customer we have already informed you about how we process your personal data. The latest version of our Privacy Notice for Customers is always on our website kroo.com. The Privacy Notice covers data that is processed on the Kroo Platform Service.
7. Complaints
7.1. We consider a complaint as being defined as an expression of dissatisfaction made by you in relation to any of the services we provide. In the event that you make a complaint, we will make every effort to rectify the problem as soon as practicably possible. If you have any complaints about the Kroo Platform Service, you should contact our Customer Service Team via our banking app or email help@kroo.com and we will try to resolve it as soon as possible.
7.2. If you have a complaint about the Kroo Platform Service we will send you a final response within 15 business days of the receipt of your complaint. In exceptional circumstances, we will send you a holding reply specifying the deadline by which you will receive our response, being no later than 35 business days from the date of your initial complaint. If you do not receive our final response or you are unhappy with our final response, you may be able to refer the matter to the Financial Ombudsman Service (FOS). You can contact the FOS at The Financial Ombudsman Service, Exchange Tower, London, E14 9SR or by calling them on 0800 023 4567.
7.3. If you do refer your complaint to the FOS, this will not affect your right to take legal action.
8. Security of Payment Details
8.1. In this section 8, a reference to security credentials includes (a) any details which you use to access our banking app (b) any details which you use to access your Payment Account using the Kroo AI Service or the Kroo PI Service.
8.2. You must take all reasonable steps to keep your security credentials safe and you must not disclose them or allow them to be used by anyone else. You must not leave the device you are using unattended while you are using the Kroo banking app and you must make sure that any security credentials stored or displayed on your device are kept secure.
8.3. If the device on which the Kroo banking app is installed is lost or stolen, or you suspect that another person knows your security credentials, you must notify us immediately at help@kroo.com.
8.4. In the event that we need to contact you in respect of suspected fraud or any other security threat, we will use the method which seems most secure.
9. Termination
9.1. We can terminate, restrict or suspend your access to the Kroo Platform Service by immediate notice in writing (which can include email) to you at any time in the event that:
9.1.1. you are in material breach of any term of these terms and/or any other agreement with us; and/or
9.1.2. we suspect that you have accessed or used the Kroo Platform Service for the purpose of an illegal activity; and/or
9.1.3. we suspect you have given us false information; and/or
9.1.4. we have concerns about the security of the Kroo Platform Service; and/or
9.1.5. a device is used that we do not recognise or is used in a way it was not designed for (such as ‘jail broken’ or we detect viruses or malicious software); and/or
9.1.6. we are compelled to do so pursuant to any legal or regulatory requirement; and/or
9.1.7. you apply for bankruptcy or become subject of a bankruptcy petition or order.
9.2. We can terminate this Agreement with you for any other reason (or no particular reason) by providing you with two months’ written notice.
9.3. You have the right to terminate this Agreement at any time without notice by contacting us using the contact details set out at section 1 above.
9.4. Upon termination of your agreement to these terms for any reason:
9.4.1. all rights granted to you under these terms will cease;
9.4.2. you must immediately cease all activities under these terms, including your use of the Kroo Platform Service;
9.5. Any of these terms which are expressly, or by implication, intended to come into or continue in force on or after termination will remain in full force and effect.
9.6. Termination will not affect any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of the terms which existed at or before the date of termination or expiry.
10. Our liability to you
10.1. We will comply with our legal and regulatory obligations to prevent unauthorised access to the Kroo Platform Service and we will accept liability for loss and/or damage to you resulting from any unauthorised access to the Kroo Platform Service, provided that such loss and/or damage could have been reasonably foreseen by us at the time that you agreed to be bound by these terms.
10.2. However, you will be responsible for any losses arising from unauthorised access if we reasonably believe that:
10.2.1. you negligently, or intentionally, failed to take all reasonable precautions to keep safe, and prevent fraudulent use of your devices and/or security information (in accordance with section 8 above); or
10.2.2. you acted fraudulently; or
10.2.3. you are aware of the Kroo Platform Service being accessed without authority but failto inform us promptly (in accordance with section 8 above).
10.3. We will not be liable to you for any loss or damage if another bank, building society, payment provider or one of our product partners is responsible for such loss or damage.
10.4. We will not be liable for any loss or damage that you may suffer because of any abnormal or unforeseeable circumstances outside our of reasonable control which would have been unavoidable despite all efforts to the contrary, for example, any delay or failure caused by problems with another system or network, any breakdown or failure of transmission, communication, data processing or computer facilities, mechanical breakdown, an act of state or government, war, riot or terrorism, any act of God, the suspension of any market, postal or other strikes or similar industrial action or any prevention from or hindrance in obtaining any materials, energy or other supplies necessary for the performance of our obligations under these terms.
10.5. We have no liability to you for any loss of profit, loss of business, business interruption or loss of business opportunity.
10.6. We will have no liability for refusing any application submitted by you to register for use of the Kroo Platform Service or any other product or service we may provide.
10.7. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence, or the negligence of our employees, agents, or subcontractors, for fraud or fraudulent misrepresentation.
10.8. We do not exclude or limit our liability for any failure to perform duties that we owe to you under the Payment Services Regulations 2017 or under the rules of the FCA.
10.9. The products and services provided by your Account Provider or any other Third Party Provider are addressed by the agreements that you have with each of them. As a result, we have no liability for the products and services provided to you by any relevant Account Provider, or any other Third Party Provider and are not liable to you for any harm, damage or loss arising from your access or use of those products and services.
11. General
11.1. These terms are in English and any communications we send to you will be in English. You agree that all communications that we may need to send to you may be sent electronically and you agree that we have no obligation to send communications in paper form (other than in respect of legal proceedings).
11.2. The provisions of these terms are personal to you and you cannot assign or transfer any of your rights or obligations under them. We can assign or transfer our respective rights and/or obligations under these terms.
11.3. If any provision of these terms is or becomes illegal, invalid or unenforceable that will not affect the legality, validity or enforceability of any other provision of these terms.
11.4. These terms are made between you and us. No other person shall have any rights to enforce any of its terms.
11.5. As our agreement with you has no fixed end date, from time to time we need to be able to make changes to these terms or to the Kroo Platform Services. To the extent these will materially impact you directly, we will give you at least two months’ notice of such changes. You must choose whether you agree to the new terms or not. If you do not want to agree to the change, you must stop using the Kroo Platform Service. Your continued use of the Kroo Platform Service following the prior notification of the amended terms will be understood as your acceptance of the new terms and conditions. During the term of this Agreement, you may request a copy of the current form of these terms and we will provide you with a copy.
11.6. These terms, their subject matter and their formation, are governed by English law. You and we both agree that the courts of England and Wales will have exclusive jurisdiction.
This version of the End User Agreement was last updated on 5 Dec 2022.